Sustained price increases in manufacturing industry

31/07/2007 15:00

Selling prices of Dutch manufacturing industry were 3.2 percent higher in June 2007 than in the same month last year. This is the largest increase in the past ten months. Price increases have risen continually since January this year, but the increase is less substantial than the increases recorded in the period running from mid-2004 to mid-2006, when prices were on average 6 percent up on the same period one year previously.

Within the sector manufacturing industry, price developments differ substantially. In petroleum processing and refining, selling prices were 2.2 percent down. Selling prices were affected by oil prices on the global market. In the past few months, the price (in US dollars) of petroleum went up, but was still below the level of June 2006. The impact of the lower oil price on selling prices was enhanced as the US dollar lost 5.7 percent against the euro relative to one year previously.

Prices of wood products were 10.7 percent higher in June than in the same month last year. Selling prices of food and metal products rose 6.9 and 6.2 percent respectively, a considerable increase relative to June 2006.

Selling prices in manufacturing industry were an average 0.6 percent higher than in May 2007. Prices of products sold on the domestic market rose by 0.5 percent; foreign buyers faced a price increase of 0.7 percent.